What you need to know about recurring invoicing.
Streamline your invoicing by sending the same invoice to the same client at regular intervals.
When your business offers the same products or services to clients at regular intervals, recurring invoicing is a great way to streamline your invoicing process.
What is recurring invoicing?
A recurring invoice is when a customer orders the same products or services on a consistent basis, and you send the same invoice over and over. Usually that is weekly or monthly, depending on how often they order. There’s no change to the information, products, services, or client information. The invoice is simply sent at those routine intervals to the same recipient.
For example, if a customer orders the same five items from you monthly, you can set up a recurring invoice for those five items that goes out every month. Then, you won’t need to take the time to create a new invoice every month. You can simply copy the same invoice and send it to the client.
Many accounting programs can automatically send recurring invoices to simplify the process even more. You won’t even need to remember to send invoices; the software does it for you.
When to send recurring invoices.
Recurring invoices work best when you offer exactly the same goods or services at regular intervals. Here are a few examples of goods and services that can benefit from recurring invoicing:
- Equipment rentals
- Subscription-based services
- Monthly contracts
- Maintenance service packages
If there’s no change in the products or services your customers regularly need, your business is a good candidate for recurring invoicing.
Sign invoices online.
If your company requires customers to sign invoices, using an online signature can keep the process simple. When customers get their recurring invoices, they can simply use an online signature program like Adobe Sign to click the signature block and add their stamp of approval to show the invoice has been accepted.